Apartments in Phuket

Investing in apartments in Phuket is an attractive opportunity for citizens of Russia, Ukraine, Belarus, Kazakhstan, Uzbekistan, and other countries. Phuket province is located in the southern part of the Kingdom of Thailand. The Phuket resort includes the eponymous island and more than thirty small islands in the Andaman Sea. It is one of the most popular vacation destinations in Asia for the mentioned countries' residents. An increasing number of non-residents of Thailand are considering real estate investments in the country. The region's pricing policy is affordable and allows for acquiring property for Russians and citizens of other states at an attractive cost. Apartments in Phuket can be found both on the coastline and further inland.

PRICES OF APARTMENTS IN PHUKET One of the advantages of the province is its affordable prices. The cost of apartments in Phuket varies depending on the distance from the airport, major attractions, and the level of infrastructure development in the area. A studio apartment can be purchased here for $50,000 USD. As for properties located on the first line, the prices are as follows:

• Studio: $70,000 USD;
• Apartments with multiple bedrooms: from $250,000 USD and above;
• Seaview townhouses: $450,000 USD;
• Houses with separate territory: from $600,000 to $700,000 USD.

It is essential to consider that prices of apartments in Phuket for investments and permanent residence are directly influenced by demand, which is related to the situation with the global pandemic. The closure of borders has compelled real estate agencies in Thailand to lower prices. It is forecasted that they will change as the situation improves.

SALE OF APARTMENTS IN PHUKET For foreigners, there are two forms of ownership in the kingdom: long-term lease (leasehold) and full ownership (freehold). By law, foreigners cannot buy land plots; if a house is acquired, the land beneath it is taken on lease, which can be extended for up to 90 years. This format does not impose restrictions on the owner, as the property can also be sold or passed down as an inheritance. However, the majority of foreign buyers prefer to invest in apartments in Phuket to avoid spending time on lease extensions. The owner cannot automatically apply for citizenship, but they have the right to participate in the program for obtaining a residence permit for investments in the country's economy.

BUYING AN APARTMENT IN PHUKET, THAILAND The sale of apartments in Thailand allows for acquiring both primary and secondary real estate. Foreigners are allowed to buy apartments in Phuket as physical or legal entities. However, in the latter case, the opening and running of a business in the country are required. Other than that, the process of acquiring real estate involves traditional stages:

• Choosing a property;
• Preparing the necessary document package;
• Signing a contract and paying the property cost;
• Registering the ownership rights.

PURCHASING AN APARTMENT IN PHUKET, THAILAND The aggregator DH can assist with choosing the desired property. The website publishes offers from developers and local real estate agencies. The catalog includes apartment prices in Phuket in rubles, euros, and dollars. Specialists will help find housing for permanent residence or investment purposes.

(Please note that prices and conditions may change over time, and it is recommended to check the current information before making a decision to purchase property in Phuket.)